Shoe Carnival, Inc. (NASDAQ:SCVL) Raises Dividend to $0.15 Per Share

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Monday, March 17th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.15 per share on Monday, April 21st. This represents a $0.60 annualized dividend and a yield of 2.68%. This is a 11.1% increase from Shoe Carnival’s previous quarterly dividend of $0.14.

Shoe Carnival has increased its dividend payment by an average of 24.5% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Shoe Carnival has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shoe Carnival to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 18.4%.

Shoe Carnival Price Performance

Shares of SCVL stock opened at $22.37 on Tuesday. The stock has a market cap of $607.90 million, a P/E ratio of 8.22 and a beta of 1.50. Shoe Carnival has a one year low of $20.51 and a one year high of $46.92. The stock has a fifty day moving average price of $25.73 and a 200 day moving average price of $33.28.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Shoe Carnival declared that its Board of Directors has initiated a share buyback plan on Thursday, December 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.